S&P 500 and Nasdaq Hit Record Highs as Stock Shrug Off Schumer Shutdown

Investors in U.S. stocks do not seem bothered by the government shutdown.

The S&P 500 rose 0.28 percent Monday morning, the first trading day since the government shutdown. That Nasdaq Composite Index rose by half of a percentage point. That was enough to break the record highs for both indexes. The S&P is now on track for its best January since 1997.

The narrower Dow Jones Industrial Average was nearly flat for the day. U.S. bonds were basically unchanged.

Across the globe, investors showed little concern over the shutdown. The Stoxx Europe index rose by 0.2%, driven higher by a rise in the shares of banks. Japan’s Nikkei average was flat and Hong Kong’s Hang Seng index rose 0.4 percent.